CSI Wireless gains capital injection

January 1, 2003

CALGARY, Alta. - CSI Wireless has received a vote of confidence from its shareholders, as well as a healthy cash infusion after closing an offering of more than three million units on the TSX.The Calg...

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CALGARY, Alta. – CSI Wireless has received a vote of confidence from its shareholders, as well as a healthy cash infusion after closing an offering of more than three million units on the TSX.

The Calgary-based company, which provides wireless and GPS technologies for the commercial trucking industry, received about $4.3 million, thanks to the offering.

The company plans to use the money to pay down debt and for working capital to fund the growth of its business.

“This injection of capital provides support for pursuing additional business opportunities that have recently come to CSI Wireless,” says CSI president, Stephen Verhoeff. “This strengthening of our balance sheet is also important for working with our larger corporate customers.”

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